Comcast Explores Spin-off Options for Cable Networks

The media giant Comcast is considering the possibility of spinning off its cable networks into a standalone company. This was announced by Comcast President Mike Cavanagh at an investor event after the company reported better-than-expected results for the third quarter. The decline in cable TV viewership in favor of streaming services raises questions, but the aim of a potential consolidation is to better position the networks within the "media landscape." The recent quarterly figures caused a stir: The company exceeded analysts' expectations with a profit, especially thanks to NBCUniversal's coverage of the Summer Olympics in Paris, which generated $1.4 million in advertising revenue. Comcast operates services such as the Xfinity cable services and channels like MSNBC, CNBC, USA Network, Syfy, Oxygen, Bravo, and E!. The question of whether private capital will be proposed for the new cable company remained open. However, there are further challenges with the streaming service Peacock, which has reached 36 million subscribers but continues to report losses. Revenues rose by 6.5% in the third quarter to $32.1 billion, surpassing the forecast of $31.7 billion. Additionally, Comcast recorded fewer losses in cable and streaming customers than expected. According to Bloomberg, the company lost 365,000 cable TV customers during this period.